Durban man pleads guilty in R2.7m fraud case
A Durban man will be sentenced late this year after pleading guilty in a R2.7 million fraud case.
Fadeel Kudoos pleaded guilty to fraud and money laundering last Thursday in the Durban Specialised Commercial Crime Court.
The 57-year-old has been accused of submitting a fraudulent application for finance to purchase a plastic moulding machine to make bottles.
The bank paid more than R2.7 million to the supplier.
READ: Two arrested for violent protest in Durban CBD
But investigations revealed the machinery was not supplied, nor was a deposit received from Kudoos as had been claimed in the invoice which submitted to the bank.
The Hawks say Kudoos instructed the supplier to make several transfers of the money.
He will be sentenced in September.
MORE ON ECR
